Trading in foreign exchange tends to be quite risky and is not suitable for all investors. Past performance is not an indication of future results. Please, always be aware of all the risks associated with forex trading. Double check before making any type of decisions.
In this review, we’ll try our best to go through the tools and instruments this broker has to offer. However, take in minf that the final decision is always up to you.
Since entering the trading industry in 2009, XM Group has transformed itself into a major and widely-recognized broker, servicing more than two million clients worldwide.
XM values clients’ loyalty, that is why it takes pride in its ability to provide services designed to adapt to the needs of clients. The firm’s Negative Balance Protection guarantees that traders would not experience losses bigger than their account balance.
In addition to flexible services and client fund protection, XM is a multi-asset broker who offers currency pairs and 1,000 CFDs, five of which include cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
XM’s no requotes and no rejections policy also ensure that all investors received suitable and consistent trading experience. All traders are given the same fair trading conditions, regardless of net worth, investment size, or account type.
XM Group mainly offers four account types – the Micro account, the Standard account, the Ultra Low account, and the Shares Account, all of which can work with either the MetaTrader 4 (MT4) or MetaTrader 5 (MT5).
The Micro and Standard account share several similarities:
What sets the two apart is their default lot size:
The Ultra Low account has two types of Ultra Low Spread account, i.e., the Micro Ultra and the Standard Ultra. The two Ultra accounts nearly have the same trading condition as the Micro and Standard account, although they have some distinguishing features:
Note that XM’s Ultra Low account is still relatively new, as it has only been introduced in March 2019. Whether traders are qualified to open an Ultra Low account will depend on the country they reside in.
Through XM, clients can trade the following instruments:
Clients may trade the instruments mentioned above using XM’s MT4 and MT5. The two platforms have been designed to function properly on PC, MAC, as well as Apple and Android mobile devices.
Alternatively, the XM WebTrader is ideal for traders looking to access their trades directly on the web.
Trading conditions on the XM platform vary depending on the account type.
For Micro, Standard, and Ultra Low account holders, the leverage is identical.
XM’s Shares account, on the other hand, does not have leverage.
Essentially, clients can choose a leverage between 1:1 and 888:1. This will depend on their account type, asset, and trade size. Traders with XM are also allowed to raise or reduce their selected leverage.
Micro & Standard Account
Ultra Low Account
Shares Account
XM offers variable spreads, which help eliminate the need for an insurance premium. That would be important for fixed spreads since they are usually higher than variable spreads.
This is further hindered by the fact that a number of brokers restrict trading close to news releases. As such, the required insurance premium becomes insignificant.
With variable spreads, XM is able to avoid these kind of problems for clients. There are also no trading limits involved at the time news announcements.
There are a number of reasons to trade with XM. Being a regulated broker across several regions, XM is able to establish broker trust and transparency with business, while still delivering enough flexibility for clients to access high leverage and excellent trading conditions.
From a novice trader’s point of view, XM provides most of the infrastructure necessary to sharpen one’s trading abilities. The platform’s account structure, which is accessible in terms of rate, is also designed to help with the client’s development through the stages.
For experienced traders, XM offers access to higher leverage and potential bonuses among other benefits. Furthermore, XM’s low minimum deposits and highly competitive spreads make it quite simple for any kind of trader to get started and seize profitable trading opportunities.
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Seriously worst. Do not transact with anyone of them. They are not regulated and they froze money for no reason.
They are good in convincing people add more money. But not really worth trading with.
Good customer service but poor trading results. I chose to close my account instead. Anyway, I am after profit which they can't give.
Poor tools, poor services and poor signals.
Bad customer service. Really very frustrating and annoying.
Not an ideal trading broker. The signals are inaccurate.
Slow and difficult withdrawals. As if they don't want to pay a profit.
Do not invest with this broker company. They are very unprofessional when it comes to withdrawals.
They keep on denying my withdrawal request. I'm afraid I am not gonna be able to get my money with them.
Warning: this broker does not pay profit and comes up with so many excuses to hold withdrawals.